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The dragon, GBP/JPY shows a huge M pattern on H1 time frame, but there are lack of sellers who could tank the price more to the downside. DAX has been bullish today despite problem with Deutsche Bank (DB). DAX had a massive gap down to start with and DB is down 4 % today. Only EU 13.9BN now of worth with a USD 14BN claim makes DB technically insolvent, and DAX might lose momentum to the upside that could reflect also on GBP/JPY pair that has a very high positive correlation with DAX.
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